Journey Medical Co. (NASDAQ:DERM) Sees Large Increase in Short Interest

Journey Medical Co. (NASDAQ:DERM) was the target of a significant increase in short interest in the month of November. As of November 30th, there was short interest totalling 76,700 shares, an increase of 15.9% from the November 15th total of 66,200 shares. Based on an average daily trading volume, of 105,000 shares, the short-interest ratio is currently 0.7 days. Currently, 0.8% of the company’s shares are short sold.

Hedge Funds Weigh In On Journey Medical

Large investors have recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. bought a new position in shares of Journey Medical in the second quarter valued at $1,664,000. PVG Asset Management Corp bought a new position in Journey Medical in the 2nd quarter valued at about $894,000. ORG Wealth Partners LLC acquired a new position in Journey Medical during the 3rd quarter valued at about $110,000. Geode Capital Management LLC raised its stake in shares of Journey Medical by 13.5% in the third quarter. Geode Capital Management LLC now owns 108,435 shares of the company’s stock worth $613,000 after purchasing an additional 12,882 shares during the last quarter. Finally, TMD Wealth Management LLC bought a new position in shares of Journey Medical in the second quarter valued at approximately $65,000. 7.25% of the stock is currently owned by institutional investors.

Journey Medical Stock Down 3.5 %

DERM stock traded down $0.18 during trading on Monday, reaching $4.91. 38,453 shares of the stock were exchanged, compared to its average volume of 120,154. The company has a current ratio of 1.38, a quick ratio of 1.03 and a debt-to-equity ratio of 1.81. Journey Medical has a twelve month low of $2.85 and a twelve month high of $8.11. The firm’s 50 day moving average is $5.62 and its 200 day moving average is $5.33. The firm has a market cap of $102.57 million, a P/E ratio of -5.36 and a beta of 0.89.

Wall Street Analyst Weigh In

A number of analysts have weighed in on DERM shares. Lake Street Capital began coverage on Journey Medical in a report on Friday, September 6th. They set a “buy” rating and a $9.00 price target for the company. Rodman & Renshaw began coverage on Journey Medical in a research note on Thursday, August 22nd. They issued a “buy” rating and a $9.00 price target on the stock. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $9.38.

About Journey Medical

Journey Medical Corporation focuses on the development and commercialization of pharmaceutical products for the treatment of dermatological conditions in the United States. The company's marketed products include Qbrexza, a medicated cloth towelette for the treatment of primary axillary hyperhidrosis; Accutane, an oral isotretinoin drug to treat severe recalcitrant nodular acne; and Amzeeq, a topical formulation of minocycline for the treatment of inflammatory lesions of non-nodular moderate to severe acne vulgaris.